Three Planning Myths
Are you -- like 70% of business owners -- working without a
plan? Here are three myths that need to be dispelled about
strategic planning for small business.
1. It has to be formal -- Not so. The value of a strategic plan
for your small business is in putting the ideas on paper,
creating action steps that will get you where you want to go and
implementing those action steps.
2. I'm too small -- Not so. Even a one-person business can
benefit from a strategic plan. A strategic plan can help you
make decisions about time management and budget. Use your
strategic plan to help you determine whether to attend an event
or advertise in a publication. It's a check and balance tool.
3. A strategic plan is like a ball and chain -- Not so. It's
your plan. Too many business owners feel like once it's on
paper, it can't be changed. Wrong! It should be an active
document that gets reviewed and updated at least monthly, if not
weekly. You're the business owner, you wrote it, you know what's
happening in your market -- adjust as necessary.